Wipro Q4 Results 2024

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Wipro Limited announced its Q4 FY 2023-24 results on April 19, 2024, revealing a gross revenue of ₹222.1 billion, a flat quarter-over-quarter performance but marking a slight decline year-over-year. The company's IT services segment experienced a modest increase, with revenues at $2.7 billion and net income rising by 5.2% from the previous quarter.

On April 19, 2024, Wipro Limited(BSE, NSE: WIPRO, NYSE: WIT) announced its Q4 2023-24 results, recording an increase of 40 bps in its IT services segment operating margin and a welcome Net Income Increase of 5.2% QoQ. 

Main Result Takeaways

Legacy group, WIPRO Ltd reported Q4 FY24 results backed by deal wins and overall growth. Key highlights are mentioned below (results also posted in USD as WIPRO is listed on the NYSE): 

Explore: Wipro LTD Share Price

  • Net profit for the quarter declines 8% compared to the last quarter last financial year. 

  • Gross Revenue for the quarter reached ₹222.1 billion ($2.7 billion) showing a flat QoQ performance.

  • The Company’s IT services segment Revenue was at $2,657.4 million, a rise of 0.1% QoQ and a fall of  6.4% YoY.

  • The Non-GAAP2 IT Services segment Revenue (in constant currency) declined 0.3% QoQ, and 6.6% on a YoY basis.

  • The total bookings for the quarter were at $3.6 billion with large deal bookings for Q4 at $1.2 billion, an increase of 31.1% on a QoQ basis and 9.5% YoY.

  • The IT services segment Operating Margin for Q4 was pegged at 16.4%, a rise of 40 bps on a QoQ basis.

  • The Net Income for Q4 was at ₹28.3 billion ($341.0 million) up 5.2% on a QoQ basis. 

  • The EPS (Earnings per share) for Q4 stood at ₹5.43 ($0.07), a surge of 5.2% QoQ.

  • The quarter witnessed Operating Cash Flows of ₹52.2 billion ($626.1 million), increased by 9.0% QoQ and at 182.6% of Net Income for Q4 FY 23-24.

  • For Q4, Voluntary Attrition was at 14.2% on a 12-month trailing basis.

  • The Board of Directors Of WIPRO confirmed the interim dividend of ₹1 which was declared by the Board at its meeting on January 12th, 2024, would be considered the final dividend for FY 2023-24. 

Additional Read: Quarterly Results

Positive Performance Outlook for the Upcoming Quarter

The Company, in its press statement, announced that it expects the revenue from its segment of IT Services business to reach the range of $2,617 million to $2,670 million, translating to a sequential guidance of (-)1.5% to (+)0.5% in terms of constant currency.

The Management’s Take on Q4 Results

Leading management of WIPRO Ltd had some inputs concerning the results, and these are shared below: 

  • Although FY24 was a challenging year for the Company’s industry, the Company remains optimistic about opportunities, going forward. 

  • Artificial Intelligence is playing a key role in the transformation of the Company’s client requirements and this is giving WIPRO Ltd a competitive edge and a boost to its business. 

  • Despite a challenging macro-environment, WIPRO’s Q4 has witnessed a 5.2% growth in EPS on a QoQ basis. 

  • In Q4, the Company generated the highest Operating Cash Flow, at 183% of the Company’s Net Income in the quarter and 159% based on the whole year.  

Q4 Business Outcomes

Details related to the Company’s business performance were also released with Q4 FY24 results. These are mentioned below: 

  • Total Bookings went down by 14% YoY, but large deal wins saw an upswing and rose 9.5% YoY.

  • By the end of Q4, WIPRO had a total customer count of 1,371 active customers.

  • Large deal wins include multinational healthcare and insurance companies, and IT healthcare companies selecting WIPRO to transform their technology platforms to meet the demands in these sectors. 

  • WIPRO has also achieved several analyst recognitions in Q4 FY 23-24. 

Q4 FY24 Result Summary

With an impressive global headcount of more than 230,000, in terms of the Company’s workforce, WIPRO has had a challenging year, given unavoidable economic conditions, both at the micro and macro levels. Although the Company has witnessed a marginal decline in Net Profit in contrast to the same period of the previous fiscal year, it has recorded some growth in its segments of IT and Healthcare. With an increased cash flow for Q4, the Company is optimistic about the next quarter, and FY 24-25, expecting technology to take its business forward to the next level of success. With its new CEO, the Company looks ahead with promise despite a somewhat potentially muted Q4 result. 

Here's the financial table with the proper formatting for negative numbers using brackets:


Three months ended March 31, 2023 (INR million)

Three months ended March 31, 2024 (INR million)

Year ended March 31, 2023 (INR million)

Year ended March 31, 2024 (INR million)






Cost of Revenues





Gross Profit





Selling and Marketing Expenses





General and Administrative Expenses





Foreign Exchange Gains/(Losses), Net





Results from Operating Activities





Finance Expenses





Finance and Other Income





Share of Net Profit/(Loss) of Associates and JV





Profit Before Tax





Income Tax Expense





Profit for the Period





Additional Read: Annual Result

Earnings Per Share:

Earnings per Equity Share: Basic





Earnings per Equity Share: Diluted





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Source - https://www.hzlindia.com/wp-content/uploads/Earnings-Press-Release_Q4FY24-_-190424.pdf

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